Is the increase in the interest rates going to make a change in the market, I have been asking a lot of “experts”, and the vote is out as to what it going to happen. Stay tuned. So what has been happening in our fabulous community this past quarter, and how does it compare to the 2nd quarter of 2012? As we are seeing/hearing in the media, there is a lack of inventory, and Bel Air Crest is no different. We currently have five homes for sale and one lot vs. ten last year. Of the six, two are Canyon homes and the remaining two are Custom. We currently have no Canyon Homes in escrow and one Custom home vs. two last year (one of each), and three Canyon Homes and two Custom Homes closes this past quarter with the same number of division of homes last quarter. As for leases, five homes were leased this past quarter, one of which was a renewal vs. four last year. As you know we are still dealing with the construction issues and most likely will continue to do so for another year (OUCH!).
